In this day and age, businesses are always on the lookout for ways to cut costs. Every dollar counts. The same is true for money spent on advertising. The ad should not cost too much but it should yield a high conversion rate.
Admittedly, traditional means of advertising are tried and tested but their high costs can be stifling. This is the reason why businesses are exploring other alternatives. With the boom of the Internet, companies are taking advantage of the emergence of online advertising such as the use of videos, arguably the cheapest and most effective means of online marketing.
Creating the Ad
Videos are preferred means of online advertising because they are not as expensive as other traditional advertising tools. They are cheaper to make than other types of ads. For instance, an online video making company charges roughly $500.00 to $1250.00 for the creation of a business introduction video. The rate is inclusive of interviews, office or store footages, client testimonials, contact information and music. Each video can last from 90 seconds up to two minutes.
On the other hand, the cost for creating a television, radio or print advertisement would depend on various factors. In certain cases, a company has to pay the talents or models, the director, the scriptwriter, the editor and the medium where the advertisement will be placed. In most cases, a company will pay a huge lump sum fee to an advertising agency that will take care of everything from conceptualizing, talent scouting, editing and placing the advertisements.
Placing the Ad
Companies who avail of traditional advertising tools still need to shell out extra money to place their advertisements. A 30-second television ad on a top rating show can cost hundreds of thousand dollars. A colored full page ad in a newspaper or in a magazine can range from thousands to hundreds of thousand dollars. A 30-second radio spot can cost thousands of dollars.
With online video advertising, the expenses usually stop at the video production stage. A company is usually free to do whatever it wants with its online videos. It can upload them on its website or other social networking sites, among others. Most of the time, a company does not even need to pay to upload its videos. On this basis alone, it’s evident that creating online videos is cheaper than traditional means of advertising.
A great advantage of online videos is that they can be shared and posted virtually anywhere. They can become viral and further increase awareness about a company and its brand. A company can use its videos for as long and as often as it wants. It’s not tied up with expensive placement costs every time it shows its videos. This would also benefit Internet users who can download the videos and watch them at their convenience, even offline.
With all the benefits of online videos over traditional advertising, it’s not surprising that they are becoming increasingly popular advertising tools. If your company’s not utilizing online videos yet, maybe it’s time you start doing so.